HomeMy WebLinkAboutC.054.93010_1251 (2)shall bear interest at such rates as shall be determined by the President of the
Corporation; provided, however, that the aggregate principal amount of the
2003 Certificates shall not exceed $47,000,000, the final maturity of the
2003 Certificates shall not extend beyond December 31, 2024, and the true interest cost
of the 2003 Certificates shall not exceed 4.90% per annum.
The 2003 Certificates shall be issued in fully registered form in denominations
of $5,000 or any whole multiple thereof. Interest with respect to the 2003 Certificates
shall be payable on April 1, 2004 and thereafter semiannually on each October i and
April 1 until the 2003 Certificates are fully paid. Payments of principal and interest
with respect to the 2003 Certificates shall be made by the Trustee to the registered
owners of the 2003 Certificates in the manner set forth in the Trust Agreement.
Section 3. The 2003 Certificates shall be subject to prepayment at the times,
uon the terms ppovided, however, Gthat noprepayment pconditions, and atremium hall exceed 2%.
the prices set forth in the Trust Agreement;
Section 4. The proceeds of the 2003 Certificates shall be applied as provided in
Section 2.05 of the Trust Agreement.
Section 5. The forms, terms and provisions of the Installment Financing
the
Agreement, the Trust Agreement, the Deed of Trust, e Purchase Agreement, the
Project Construction Agreements and the Lease Agreements are hereby approved in all
respects, and the Chairman or Vice Chairman of the Board of Commissioners, the
County Manager, the Director of Finance and Administrative Services, the Clerk to the
Board of Commissioners and counsel to the County are hereby authorized and directed
to execute and deliver the Installment Financing Agreement, the Deed of Trust, the
Purchase Agreement, the Project Construction Agreements and the Lease Agreements,
in substantially the forms presented to this meeting, together with such changes,
modifications and deletions as they, with the advice of counsel, may deem necessary
and appropriate, including, but not limited to, changes, modifications and deletions
necessary to incorporate the final terms of the 2003 Certificates as shall be set forth in
the Purchase Agreement; such execution and delivery shall be conclusive evidence of
the approval and authorization thereof by the County.
Section 6. The County hereby approves the award of the 2003 Certificates to
the Underwriters pursuant to the Purchase Agreement, subject, however, to the
limitation on true interest cost contained in Section 2.
Section 7. The County hereby authorizes the use and distribution of the
PreliminaryOfficial Statement in connection with the public offering of the
2003 Certificates, and the Official Statement, in substantially the form of the
Preliminary Official Statement, with such changes as are necessary to reflect the
et premums and initial offring prices of the
maturities, interest rates, prep oYmdnand therChairman or Vice Cheairman of the Board
2003 Certificates, is hereby app
of Commissioners, the County Manager or the Director of Finance and Administrative
fficial
Services is hereby authorized to execute,together such chaf of nges, s, modificatioCounty, the Ons and
Statement in substantially such form, g such
deletions as he, with the advice of counsel, may deem necessary y appropriate;
execution shall be conclusive evidence of the approval thereof by the County. Tthe he
County hereby also approves and authorizes the distribution and use of copies
othe
Official Statement, the Trust Agreement, the Installment Financing Agreement, the
Deed of Trust, the Purchase theAUnderwriters Pn 1ect connectionction with gthe m ales ano d the
Lease Agreements by
2003 Certificates.
Section 8. The Chairman or Vice Chairman of the Board of Commissioners, the
County Manager, the Director of Finance and Administrative Services, counsel to the
County and the Clerk to the Board of Commissioners are authorized and directed
(without limitation except as may be expressly set forth herein) to take such actions and
to execute and deliver such documents, certificates, undertakings, agreements and other
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